I am currently on IVA with 2 years towards the end of it. Paying 401£ per months. I was told that we have approx 12.5k left to pay. My brother is willing to help us out and put a offer to our creditors of 9.5k. I have couple of questions: will this be enough? I am aware that he Would have to present a statement and prove that he has got such amount of money available on his account. He live in Poland where currency is “Zloty”. Would this currency be enough to show ? Or he has to open a currency account?

If you have 2 years left --- 24 payments ---- the creditors are only expecting to get another £5040 not £12.5k !

Did you ask for a figure to settle the IVA ?

Hello,

Thank you for your response:) 24x401 is actually 9.624£. I just checked my documents and it’s approx 2.5 years left to complete the IVA.

I Would like to know what would be the realistic figure to offer and how to present the statement from my Brother to show that he has got the money which he would like to offer as a gift but these are on his polish account at the moment hence we would like to know how to proceed with that.

If you have 2 years left --- 24 payments ---- the creditors are only expecting to get another £5040 not £12.5k !

Did you ask for a figure to settle the IVA ?

Hello,

Thank you for your response:) 24x401 is actually 9.624£. I just checked my documents and it’s approx 2.5 years left to complete the IVA.

I Would like to know what would be the realistic figure to offer and how to present the statement from my Brother to show that he has got the money which he would like to offer as a gift but these are on his polish account at the moment hence we would like to know how to proceed with that.

Ah -- sorry -- I misread the figure as £210 for some reason -- apologies.

I would say an offer around £10k would have a good chance -- but, considering you will have made a couple more payments of £401 before the offer is accepted, the £9.5k might do it.I am sure the IP will be happy with a statement in Zloty and, when the offer is accepted he can make an international transfer direct to the IP.

Make sure the company knows it is for a full and final offer and if not accepted the money will not be available.

http://kallis3.blogs.iva.co.uk/Sharing from experiences of dealing with debt The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.Bob Marley.